PURPOSE: To obtain the present composition improved in low-temperature characteristics, by polymerization of a fluorine-contg. monomer in a latex of a silicone elastomer to effect partial graft bonding of fluorine-contg. elastomer to the silicone elastomer.

CONSTITUTION: (A) In a latex prepared by dissolving a silicone elastomer in an inert organic solvent (pref., 1,1,2-trichloro-1,2,2-trifluoroethane) followed by emulsification into water using an emulsifying agent and, if need, crosslinking treatment, (B) a fluorine-contg. monomer (pref. a combination of vinylidene fluoride with hexafluoropropene) is polymerized at 5-100°C in the presence of a catalyst, thus obtaining the objective elastomer composition consisting of 50-95wt.% of the fluorine-contg. elastomer and 50-5wt.% of the silicone elastomer, with at least part of each elastomer graft-bonded to each other.